Global Banking Crisis "Is" Certain

Speaking at a conference on Thursday, the federal government's former
top resources forecaster Quentin Grafton said the iron ore price was
unlikely to recover quickly, leading to a painful downturn in the
Australian economy in 2015.

"This isn't about doom and gloom,
it's about looking at the risk and numbers. It's a clear and present
danger," Mr Grafton said.

He said the Reserve Bank of Australia
should prepare for a difficult ride as the overpriced property market
and high dollar created a challenging economic environment as coal and
iron ore prices dropped.

Mr Grafton's comments join an
increasingly vociferous choir of concern about the Chinese economy,
with investor fears stoked by a Chinese residential property market
that is experiencing its worst slump on record.

The average
price of new homes has been falling in China for months, with the rate
of decline accelerating from June (0.5 per cent) to July (0.8 per
cent), sending tremors through the economy. It dropped another 0.6 per
cent in August, bringing the average to $US1737 per square metre.

Property market issues are of critical concern for the Chinese economy
and global investment community, as the property sector is a key
economic driver that contributed 15 per cent of China's 2013 gross
domestic product.

China's property market woes are directly
linked to the Australian economy as Chinese residential property
construction is a leading consumer of iron ore, which accounts for $1
of every $5 of Australian exports.

The dropping demand and
oversupply issues have caused the iron ore price to drop to a five year
low. It is currently hovering around $US84.38 a tonne.

The next historic low would take a significant slide to $76 a tonne, a rate not seen since September 2009.

Commodity Producer Countries Will Be Hit Hard

I have been discussing the same setup for quite some time. One of the
first on this train has been Michael Pettis at China Financial Markets.

China is going to slow, without a doubt, and commodity producer countries such as Australia and Canada will take a hit.

The Enterprise Of Maligning Enterprise (And The Clergy Who Make Matters Worse)

The
chant, recited through a megaphone, was being led by a man identifed as
a Christian Pastor ("Reverend Charles" we'll call him), near a
McDonalds restaurant in Detroit last week. Dozens of people in the
parking lot uttered the chant with him, as the crowd sought to malign
McDonalds restaurants while at the same time demanding a $15.00 per hour
wage.

"They want fifteen, they want a union, they want to be
organized" Pastor Charles told the tv news crews. "The McDonalds
corporation should allow that to happen immediately."

The illogic
and misplaced passion was unfortunate on multiple levels. Was the
McDonalds restaurant in question owned by a local franchisee, or by the
corporation? Does the publicly traded transnational McDonalds
corporation set the wages paid at that store, or did a local business
owner determine that?
And why is it that a job at McDonalds pays so
little - could it be that such work generally requires little if any
training or previous experience?

Reverend Charles and others like
him may feel justified and righteous as they join the AFL-CIO and the
Democrat party in maligning local businesses. But their efforts are
misguided, for several reasons:

It ignores a major player in the labor market - The
protests and demonstrations centered on the plight of employees who
work for a minimum wage all seem to conveniently ignore another
important party in the labor market – employers. Gathering people to
“rage” against business owners is consistent with the teachings of Karl
Marx, but is it constructive, and does it fit with the faith leaders’
professed beliefs?

Presumably Reverend Charles and many of the
other faith leaders crying out for “worker justice” also provide
pastoral counseling services as part of their professional and
ministerial duties. But would any good clergy member attempt to do
marital counseling with only one spouse in the room?

Probably not. And
while the employer-employee relationship is not a marriage, it is
nonetheless a relationship – so why are religious leaders championing
the needs and interests of one party while not even considering the
needs and interests of the other?

“The
Qom Friday Prayer leader stressed that the custodians of the old order,
with slogans such as freedom, democracy and human rights has attracted
some people but that for a long time, Westerners and Americans have
based their slogans on deceptive rhetoric.” As far as Sayyed Mohammad
Sa’idi is concerned, you see, the real freedom, democracy and human
rights are found in Sharia, you see — which means no freedom, democracy
or human rights at all.

“Qom Friday prayer leader: ‘The Islamic Revolution shaken the foundations of the order imposed by the West,'”Ahlul Bayt News Agency, September 6, 2014:

In his Friday prayer sermon at the Holy Shrine of Lady
Fatimah al-Ma’sumah, Hujjat al-Islam Sayyed Mohammad Sa’idi has
explained that the order imposed by the West on Muslim countries is
collapsing, and that Iran’s Islamic Revolution is a part of a “new world
order.”

Referring to the recent meeting of the members of the Assembly
Experts with the Supreme Leader of the Islamic Revolution (Ayatollah
Sayyed Ali Khamenei), Hujjat al-Islam Sa’idi explained that we must look
with a comprehensive viewpoint at the issues affecting the world, the
region and our country. He stated that the Supreme Leader explained that
the previous ruling system of world is in a state of uncertainty and
change and “new world order” is taking shape which is in opposition to
this injustice order.

The Qom Friday Prayer leader stressed that the custodians of the old
order, with slogans such as freedom, democracy and human rights has
attracted some people but that for a long time, Westerners and Americans
have based their slogans on deceptive rhetoric.

They seek to dominate
the intellectual and moral values of the world. However, they have
suffered a disadvantage because their slogans have faded and people have
found them to be false. The Islamic Resistance is growing stronger and
the West will soon collapse. “Iran’s Islamic Revolution, as part of the
new world order, has shaken the foundations of the order imposed by the
West on Muslim nations,” His Eminence explained. “This success is due to
the efforts and guidance of the late Imam Khomeini and those of
Ayatollah Khamenei.”

Hujjat al-Islam Sa’idi said that the Supreme Leader has stressed the
need to resist the arrogant powers, and explained that resistance and
attention to religion are necessary elements to advance the new world
order. He noted that the West relies on military force and said that if
nations and states reject the ideas of the Western powers, force and
aggression will be unleashed on them. He pointed out that Israel is the
symbol of Western military power in the Middle East so they can vanquish
Muslim governments in the region.

U.S. Sen. Ted Cruz, R-Texas plans to file the Expatriate Terrorist Act (E.T.A.) of 2014 when the Senate returns to work on Monday, September 8th.

Currently, it’s believed that over a dozen Americans may be fighting with ISIS, while other sources claim it to be as high as 115.
Recently, the number of Americans, as well as other foreign nationals,
now aligned with ISIS and other radical Islamic terror groups in the
Middle-East has been both growing and much in the news.

Cruz’s office released the following statement.

“Americans who choose to go to Syria or Iraq to fight
with vicious ISIS terrorists are party to a terrorist organization
committing horrific acts of violence, including beheading innocent
American journalists who they have captured,” said Sen. Cruz. “There can
be no clearer renunciation of their citizenship in the United States,
and we need to do everything we can to preempt any attempt on their part
to re-enter our country and carry out further attacks on American
civilians.”

The ETA amends an existing statute that provides certain actions by
which a United States citizen renounces their citizenship to include
becoming a member of, fighting for, or providing material assistance to a
designated foreign terrorist...

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I am an American Patriot...part of the grassroots movement of bloggers spreading the truth the media will not. I am also co-host with Craig Andresen of RIGHT SIDE PATRIOTS on RSP Radio at: https://streamingv2.shoutcast.com/right-side-patriots